The Changing Face of ContractorsBy Joanne Costin
Article Date: 08-01-2012
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Hispanics are a growing force in the overall economy, representing 16 percent of the U.S. population and $1 trillion in purchasing power. But what you may not have realized is that Hispanic businesses are an even bigger economic force in the construction industry.
One incredible statistic came out of the last "Survey of Business Owners: Hispanic Owned Businesses 2007" (released in 2010) that should make every construction equipment dealer stop and think about the future. Hispanic-owned businesses are growing at a rate that is twice as fast as the national rate of 18.0 percent. Construction is the largest single industry segment. More than 340,000 Hispanic construction firms with sales of nearly $57 billion were identified in the survey produced by the U.S. Census Bureau.
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